SSR MINING ANNOUNCES CLOSING OF SALE OF PITARRILLA PROJECT TO ENDEAVOUR SILVER

SSR Mining has finalized the sale of its Pitarrilla project in Durango, Mexico, to Endeavour Silver Corp., receiving US$35 million in cash, US$35 million in Endeavour shares, and a 1.25% net smelter return royalty.

Rhea-AI Summary

SSR Mining has finalized the sale of its Pitarrilla project in Durango, Mexico, to Endeavour Silver Corp., receiving US$35 million in cash, US$35 million in Endeavour shares, and a 1.25% net smelter return royalty. This transaction followed necessary regulatory approvals and closing conditions. SSR Mining is recognized for its focus on free cash flow and operates four producing assets globally, yielding approximately 794,000 gold-equivalent ounces in 2021.

Positive

• Received US$35 million cash from the sale.
• Acquired US$35 million in Endeavour Silver shares.
• Gained a 1.25% net smelter return royalty on the Pitarrilla project.

Negative

• None.

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DENVER, July 6, 2022 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) ("SSR Mining" or the "Company") is pleased to announce that it has closed the sale of the Pitarrilla project in Durango, Mexico to Endeavour Silver Corp. (TSX: EDR; NYSE: EXK) ("Endeavour Silver") following the receipt of all required regulatory approvals and satisfaction of all closing conditions. As consideration for the sale, SSR Mining received US$35 million in cash, US$35 million in shares of Endeavour Silver, and a 1.25% net smelter return royalty on the Pitarrilla property.

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused gold company with four producing assets located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets. In 2021, the four operating assets produced approximately 794,000 gold-equivalent ounces. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.

SSR Mining Contacts:

F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Alex Hunchak, Director, Corporate Development and Investor Relations

SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (416) 306-5789

To receive SSR Mining's news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.

View original content:https://www.prnewswire.com/news-releases/ssr-mining-announces-closing-of-sale-of-pitarrilla-project-to-endeavour-silver-301581860.html

SOURCE SSR Mining Inc.

FAQ

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What did SSR Mining announce on July 6, 2022?

On July 6, 2022, SSR Mining announced the closing of the sale of its Pitarrilla project to Endeavour Silver Corp.

How much did SSR Mining receive from the sale of the Pitarrilla project?

SSR Mining received US$35 million in cash, US$35 million in Endeavour Silver shares, and a 1.25% net smelter return royalty.

What is the significance of the Pitarrilla project sale for SSR Mining?

The sale enhances SSR Mining's cash position and reduces its operational focus, allowing for investment in higher-priority projects.

What are SSR Mining's production statistics from 2021?

In 2021, SSR Mining produced approximately 794,000 gold-equivalent ounces across its four operating assets.